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Publish Date : 19-May-2015

On Sunday, The Arab Fund for Economic and Social Development (AFESD), and the Samra Electric Power Company (SEPCO), signed an agreement, as per which the AFESD will provide KWD16 million finance supporting the seventh phase of SEPCO's power expansion project.

The Kuwait-based fund will be contributing towards the completion of the Samra electric generating plant, for addressing the ever growing demand for electric power and energy in the Kingdom by expanding the plant's capacity from 1170 MW to approximately 1240 MW, with the addition of a 70 MW steam-generating unit that operates on heat from the gas-generation unit.

The Arab fund is an essential partner in supporting development efforts in the Kingdom, as it contributed towards financing economic and social priority projects worth nearly KWD579 million.

The Minister of Finance, Umayya Toukan, AFESD's Chairman Abdulatif Al-Hamad, signed the agreement in a ceremony which was attended by Minister of Planning and International Cooperation Imad Fakhoury, along with SEPCO Managing Director Amjad Rawashdeh.

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